Dubai Sees Surge in Stablecoin Demand Amid Geopolitical Tensions

Demand for stablecoins in Dubai has significantly increased due to geopolitical tensions, according to local sources. According to BlockBeats, the surge in interest for USDC is evident as over-the-counter desks are crowded with inquiries. Local sources attribute this trend to the inefficiency of bank wire transfers in the region, prompting large funds to move on-chain. Data from DefiLlama indicates that the supply of USDC has risen by 3.03% over the past week, amounting to approximately $2.36 billion.